Financial help for the terminally ill
Qualifying members diagnosed with a terminal illness can receive a portion of their life insurance proceeds in advance. This money can be used to help with medical costs and alleviate other immediate financial worries.
The advance is treated as a lien against the contract and requires the member to pay interest. However, as a fraternal program, Modern Woodmen will pay up to $5,000 of the accrued interest on the member’s cumulative terminal illness lien.
Do I qualify?
This benefit is available to Modern Woodmen members who elect to use the accelerated benefits rider or terminal illness accelerated benefit rider attached to their Modern Woodmen life insurance certificate.
How to apply
No separate application is needed. Modern Woodmen will automatically apply the Terminal Illness Interest Relief program to a member’s lien one year after the advance is paid or upon death if within 12 months.
Contact your Modern Woodmen representative to learn more about the terminal illness accelerated benefit rider or call our Service Center at 800-447-9811 to learn more about the interest relief benefit.
Note: Accelerated benefits are not available in all states or situations. Ask your representative if your certificate contains this rider and for complete details. Talk to your tax advisor before accelerating any benefits.
Subject to change, fraternal member programs are not part of the contract and may have specific eligibility requirements. Some programs are not available to all members. Log in to your online member account for complete details.
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